Updated from 11:06 a.m. EDT

Merger activity and earnings news moved technology stocks higher Thursday.

Covansys ( CVNS) soared 24.2% after the information-technology services company agreed to be acquired by Computers Sciences ( CSC) for about $1.3 billion, or $34 a share in cash. "With this action, we are significantly strengthening our capabilities and presence in India as well as creating an additional market channel for our industry, consulting and outsourcing solutions," Computer Sciences said. The deal is expected to close during Computer Sciences' second quarter. Covansys shares closed up $6.49 to $33.29.

Elsewhere, Xilinx ( XLNX) rose 3.4% after the chipmaker posted better-than-expected fourth-quarter results. For the quarter ended March 31, the company earned $87.6 million, or 27 cents a share, on revenue of $443.5 million. Analysts polled by Thomson Financial expected earnings of 23 cents a share on revenue of $441.3 million. During the year-earlier quarter, the company earned $110.7 million, or 32 cents a share, on revenue of $472.3 million.

Looking ahead, Xilinx sees a sequential revenue gain of 1% to 5%, which would result in revenue of about $448 million to $466 million during the first quarter. Analysts project revenue of $453.5 million. Shares closed up 98 cents to $30.18.

Also climbing was F5 Networks ( FFIV), which posted second-quarter results that topped forecasts. Shares jumped 21% after the software company posted earnings of $20 million, or 47 cents a share, on revenue of $127.6 million. Analysts expected earnings of 45 cents a share on revenue of $125.5 million. During the year-earlier quarter, the company earned $16.1 million, or 39 cents a share, on revenue of $94.1 million.

Looking ahead, F5 Networks sees third-quarter earnings of 48 cents to 50 cents a share on revenue of $131 million to $133 million. Analysts project earnings of 48 cents a share on revenue of $130.8 million. Shares closed up $13.86 to $79.93.

Meanwhile, Bottomline Technologies ( EPAY) jumped 12.8% after the payment-software company reported third-quarter results that were better than expected. For the quarter ended March 31, the company reported adjusted earnings of $2.8 million, or 12 cents a share, on revenue of $31.1 million. Analysts expected earnings of 10 cents a share on revenue of $30 million. During the year-earlier quarter, the company earned $1.3 million, or 5 cents a share, on revenue of $24.9 million. Shares closed up $1.44 to $12.67.

Shares of Symyx Technologies ( SMMX) tumbled 32.6% after the research software company posted a smaller-than-expected first-quarter loss but slashed full-year guidance. The company reported a loss of $972,000, or 3 cents a share, on revenue of $25 million. Excluding items, the company lost a penny a share. Analysts expected a loss of 3 cents a share on revenue of $25 million. During the year-earlier quarter, the company earned $1.7 million, or 5 cents a share, on revenue of $27.1 million.

Looking ahead, the company now sees an adjusted full-year profit of 4 cents to 14 cents a share on revenue of $110 million to $120 million. Previously, the company said that it would post a profit of 40 cents to 45 cents a share on revenue of $133 million to $140 million. Analysts project earnings of 41 cents a share on revenue of $137.2 million. Shares closed down $5.80 to $12.

As for the broader technology sector, the Nasdaq 100 traded up about 8 points to 1889.57.

Other technology movers included Apple ( AAPL), up $3.49 to $98.84; Level 3 Communications ( LVLT), down 45 cents to $5.73; Sun Microsystems ( SUNW), down 2 cents to $5.25; Microsoft ( MSFT), up 11 cents to $29.10; Cisco Systems ( CSCO), down 23 cents to $26.55; Sirius Satellite Radio ( SIRI), up 13 cents to $2.96; and Intel ( INTC), down 217cents to $22.09.

More from Stocks

At End of May, Investors Signalling They May Stay Away

At End of May, Investors Signalling They May Stay Away

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Finding Stocks Right for You: Cramer's 'Mad Money' Recap (Friday 8/25/18)

Finding Stocks Right for You: Cramer's 'Mad Money' Recap (Friday 8/25/18)

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day